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Many student loan borrowers can expect to be compensated due to a vicious repayment scheme. Bloomberg reports Navient Corp. has reached a $1.85 billion settlement with 39 states for unethical student loan practices, which placed billions of dollars of debt into the hands of its borrowers. Navient Corp. will have to cancel $1.7 billion in private student loans for nearly 66,000 borrowers and pay $95 million in restitution, The New York Times reports. According to Delaware officials, Navient Corp. was responsible for ensuring its customers would be provided affordable repayment plans. Backing away from their word, Navient Corp. secretly pushed customers to take on expensive payments to be paid over an extended period. “The bottom line is this: Navient knew that people relied on their loans to make a better life for themselves and for their children,” Pennsylvania Attorney General Josh Shapiro said Thursday, in a press conference, according to Bloomberg. “Instead of helping them, they...
Fresh from a Kenyan safari, Karen Akpan, also known as “The Mom Trotter,” can thank her family’s newfound adventures to her unconventional financial journey. While traveling has always been a priority for the mother of one, she was convicted to create a platform encouraging families to travel without breaking the bank. Launching The Mom Trotter blog in 2017, the family-oriented platform generated popularity allowing the family of three to create revenue from their travel experiences. Travel Noire reports that Karen also expanded the brand to launch Black Kids Do Travel, designed for families of color to share their travel experiences and inspire other families to follow suit. Despite the impressive traction the Akpans’ were gaining, the incoming revenue was not enough to sustain the family’s lifestyle. While living in California, life was great for the family of three. Karen had received a high-paying contract job as a clinical researcher and moved into a beautiful home. Taking...